There is green light on GBP-USD but wait for good price and time before buying good night all, best of trades to you{image}
We seeing the same thing almost - but may I ask what settings you use on Williams?
Thanks
- #44
- May 6, 2013 4:50pm May 6, 2013 4:50pm
- Joined Jul 2011 | Status: Gold Again | 10,567 Posts
{quote} Hi We seeing the same thing almost - but may I ask what settings you use on Williams? Thanks {image}
broker is AxiTrader Australia
It takes a lot for me to IGNORE you, but you can try.
100PipsADay
Very nice strats. If there was only one indicator I could use, it would be the 20 ema. I use it as a buy/sell line in everything I do, from tick charts to dailies. As you know, it is the middle band of the Bollinger Bands, so many are watching it.
I have traded the same basic concept as you, using %R, stoch (similar), RSI, CCI. My entry is different. Because I mainly use the slow stoch, I wait for it to close below 20 (for longs). The first bar that shows the stoch hooking back up and closing is my signal bar. I will then enter on the next bar only when price breaks the high of the signal bar. If the next bar does not break the high of the signal bar, but stoch is still pointing up, I will enter on the following bar if it takes out the high of the signal bar. So, in essence, the signal bar must close with stoch hooking up and the trigger bar must have price breaking the high of the signal bar in order to enter. I find that this confirmation entry method gives me confidence that the trade will continue to move in my favor, as it eliminates numerous losing trades.
I'd be interested to hear if you have considered this. In any case, I didn't mean to hijack the thread, but just wanted to present something that has worked for me for years.
Mahalo! Born in Oahu!
Very nice strats. If there was only one indicator I could use, it would be the 20 ema. I use it as a buy/sell line in everything I do, from tick charts to dailies. As you know, it is the middle band of the Bollinger Bands, so many are watching it.
I have traded the same basic concept as you, using %R, stoch (similar), RSI, CCI. My entry is different. Because I mainly use the slow stoch, I wait for it to close below 20 (for longs). The first bar that shows the stoch hooking back up and closing is my signal bar. I will then enter on the next bar only when price breaks the high of the signal bar. If the next bar does not break the high of the signal bar, but stoch is still pointing up, I will enter on the following bar if it takes out the high of the signal bar. So, in essence, the signal bar must close with stoch hooking up and the trigger bar must have price breaking the high of the signal bar in order to enter. I find that this confirmation entry method gives me confidence that the trade will continue to move in my favor, as it eliminates numerous losing trades.
I'd be interested to hear if you have considered this. In any case, I didn't mean to hijack the thread, but just wanted to present something that has worked for me for years.
Mahalo! Born in Oahu!
- #56
- May 7, 2013 4:14pm May 7, 2013 4:14pm
- Joined Jul 2011 | Status: Gold Again | 10,567 Posts
Please can anyone check below charts. I put order buy at 1.30779 http://www.mql5.com/en/charts/248089...dealer-eur-usd D1 http://www.mql5.com/en/charts/248117...fxdirectdealer H1
As you can see the 20 EMA and 50 EMA are virtually the same - it can go either way; wait till it makes decision, then enter on retracement with good signal from 1 Hour chart.
good luck
It takes a lot for me to IGNORE you, but you can try.
- #57
- May 7, 2013 11:54pm May 7, 2013 11:54pm
- Joined Mar 2007 | Status: Trader | 7,195 Posts
{quote} There are much better opportunity available than the EUR-USD, look for a trending pair. Check the open trades as shown in the Trade Explorer - much to learn from there!
- #58
- May 8, 2013 3:05am May 8, 2013 3:05am
- Joined Apr 2013 | Status: Trader | 10,297 Posts
{quote} There are much better opportunity available than the EUR-USD, look for a trending pair. Check the open trades as shown in the Trade Explorer - much to learn from there! As you can see the 20 EMA and 50 EMA are virtually the same - it can go either way; wait till it makes decision, then enter on retracement with good signal from 1 Hour chart. good luck
'Currently testing this system on EUR/USD, EUR/JPY, CHF/JPY, USD/JPY, NZD/JPY, NZD/USD, AUD/JPY, AUD/USD, EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD, GBP/USD, GBP/JPY, EUR/CAD, USD/CAD, CAD/JPY, AUD/CAD, AUD/NZD, & EUR/GBP.'
Good starting point! Trading this bunch live with 250 pip stop would need a massive account of course but no harm in demoing.
You soon start to recognise high probability trades if you spend enough time in front of the screen. Totally agree with comments on the euro trade.
Happy trading
